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Project management
Mid-Term evaluation
Harnessing Entrepreneurial Thinking in Project Implementation: A
Critical Assessment :
Entrepreneurial thinking skills refer to the ability to identify marketplace opportunities and
discover the most appropriate ways and time to capitalize on them. Sometimes, it is simply
referred to as the ability to find and pursue the problem-solution fits and its the ability to see
things differently than the rest of the world but, it is not necessarily an inherent trait and can
be easily developed or improved. It is more like a state of mind that opens your eyes to new
learning opportunities and helps you grow in your role.
And the 9 characteristic of this mindset are : Determination; Focus; Drive; Decisiveness;
Independence etc…
The entrepreneurship mindset in project management goes beyond simply following a set
plan or process. It involves thinking like an entrepreneur in managing projects, which means
being proactive, innovative, and willing to take calculated risks and for example Apple is
perhaps one of the best-known examples of a successful entrepreneurial venture driven by
innovation. The company was founded by Steve Jobs and Steve Wozniak in 1976, and they
introduced the Apple I personal computer, followed by the Apple II.
Most often entrepreneurs are not only driven by their goals but also their ability to reflect on
what they really want. As far as management in projecting goes, it is the capacity of people
to spot the occurrence of new opportunities and develop predisposition of the kind of results
they want to see at the end of the project.
Risk-Taking and Adaptability:
Entrepreneurs are those who are ready to work with known risks and willing to go easy with
the alterations. Thus, on implementation of a project, the right eye is necessary to be
increased so that one can be able to react quickly to the unexpected difficulties or
opportunities.
Innovation and Creativity:
Innovation and creativity are the driving forces whereby entrepreneurs constantly innovate
and experiment new ideas which have a potential to resolve currently existing problems and
add value. Here, in the domain of project management, this approach requires the
stimulation of team members' creative thinking and exploration of innovations that could help
to solve project-related issues.
Resourcefulness and Bootstrapping:
The entrepreneurs usually run with limited resources hence they must on the other hand be
self-aware to find creative solutions. However, in operation phase, this is of course, how
budget and composition of the resources shall be optimized, how efforts can be minimized
and where can efficiency be achieved without even exceeding budget limits.
Customer-Centric Approach:
Going first their customers, entrepreneurs make the big deal of discovering and meeting the
requirements of their customers. A good project management amounts to customer-
communication and interaction with all participants, and ensuring that project objectives are
achieved to critical measure.
Persistence and Resilience:
Did I mention that entrepreneurs are persistent and resilient people who stay strong in the
face of difficulties and do not surrender? This entails the burden of project implementations
issue include crew maintenance of motivation and pressure until obstacles and challenges
have been overcome.
Strategic Thinking and Long-Term Orientation:Strategic Thinking and Long-Term Orientation:
The business leaders are informed decision-makers with a strategic orientation and pursue
long time horizons in their planning. This, in projects management, is brought about by
aligning project activities with vision and mission statements and by assessing and
evaluating the benefits of the project goals and objectives in the long run.
Networking and Collaboration:
The entrepreneurial network is a place where people expands their connections and they
work with others in order to have access of more resources than they could possibly have by
themselves. With the implementing part collecting data from project team members, collating
input from stakeholders and partners is a strategy that ensures project success.
Analytical skills refer to the ability to research, collect and analyze information to form more
complex ideas about it. Using analytical skills is a great way to develop solutions for complex
problems and interpret data to gain more knowledge about the subject.
By applying analytical techniques and tools, project managers can break down intricate
issues into manageable components, prioritize actions based on data-driven insights, and
track progress effectively.
And there is some known techniques to improve our analytical skills : Read more; Play brain
games; learn something new; Keep a journal; Ask questions …
Iterate and Gather Feedback: Continuously improve designs and consider different inputs
from potential customers.
Lead Entrepreneurially: Lead with example and vision and with composure and self-
confidence.
Encourage Continuous Learning: Create a culture of learning and continuously striving for
better quality.
Recommendation for fostering a culture of innovation and creativity within project team
include:
Encourage Open Communication: Establish a setting that encourages participants to feel to
free express ideas and not to worry of critic. Let’s facilitate open discussion and pay close
attention to the diversity of opinions that are represented.
Provide Resources and Support: Invest resources that will go into time, the budget, and tools
to establish the innovation projects. Allocate resources for trainings and developments to
nurture or bring forth creative and analytical thinking skills.
Set Clear Goals and Expectations: Identify, state and agree with the innovation targets and
objectives in the project team. Give the message that input of innovation and creativity will
be very helpful in reaching project objectives.
Promote Collaboration and Diversity: Spur the team into working together with their different
backgrounds and being competent in different skill sets. Work with different points of view
and creative thinking, stimulating innovation.
Risk Aversion: The established project management methods place a large emphasis on risk
mitigation and plan enactment which may be undesirable for entrepreneurs who have a
knack for risk taking and experimentation.
Lack of Resources: Innovative perspectives can get additional resources for example, time,
budget and personnel training, which some project management systems may don’t have.
Training and Development: Offer a wide set of training and development options for the
project team members in order to create an environment where people will be more
motivated to behave entrepreneurially through creativity, critical thinking, and managing the
risks.
Obviously, the development of analysis skills and direct thinking are vital for solving the
problems and making sure the decent quality of the projects which are performed today.
Organizations will be driven by experimentation, risk-taking, the development of new skills all
through which an organization can be able to spot new business opportunities to facilitate
continuous development. Although creative ways should be found to fit entrepreneurship
principles into the conventional project management or organizational systems structures, it
is their potential appreciation that determines its significance.
References:
https://www.linkedin.com/pulse/integrating-entrepreneurship-design-
systems-thinking-geoff-jqfvc?trk=article-ssr-frontend-pulse_more-
articles_related-content-card
https://www.indeed.com/career-advice/career-development/improve-
analytical-skills
https://fastercapital.com/topics/successful-implementation-of-
entrepreneurial-thinking-in-curriculum-development.html
https://www.linkedin.com/advice/3/how-can-companies-integrate-
entrepreneurship-wrvye
https://www.entrepubl.eu/new-directions-from-the-entrepreneurial-skills-
in-the-public-sector/
https://fastercapital.com/topics/how-to-infuse-entrepreneurial-thinking-
into-existing-fine-arts-programs.html